NESDB maintains GDP growth target at 4,5 / 5,5 %

The National Economic and Social Development Board (NESDB) maintains the 2008 economic growth target at 4.5-5.5 per cent, regardless of the economic stimulus package.

Ampon Kittiampon, secretary-general of the NESDB, said that the agency would review the effectiveness of the economic measures after the first quarter, as well as the impacts of oil prices and the US economic slowdown.

“Though consumer confidence has clearly been restored, reflected through the purchase of new cars, the NESDB has to take into account other factors,” he said.

The agency also maintains the inflation target at 3.2-3.7 per cent. Despite the skyrocketing prices in the first quarter, NESDB believes that prices would fall in the second quarter. It is favourable if the first quarter inflation could be kept at 5 per cent. (Nation)

That’s the good point with the NESDB : it doesn’t change.

-Government introduces a “stimulus package” (maybe we should check the definition of “stimulus”) ? The NESDB prefers to ignore it. They might be thinking that the “stimulus” won’t work (which is written), or that it will be offseted by the… slowdown.

-Inflation explodes ? Bad news are coming from… many parts of the world ? Again, the NESDB doesn’t move.

I mean : respect !

See you in the second quarter folks…

[as for the comment "consumer confidence has clearly been restored, reflected through the purchase of new cars" it's bullshit. I repeat : bullshit in Wonderland. Check the figures here and here and there]